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Newcastle United have had a £29 million bid for Reims striker Hugo Ekitike rejected after including an 'impossible' Champions League bonus.
The Magpies signed Chris Wood from Burnley earlier in the January transfer window after Callum Wilson suffered a calf tear against Manchester United.
Newcastle have identified young forward Ekitike as a target and he'll cost at least £24 million up front according to Reims president Jean-Pierre Caillot.
He explained to Le Quotidien du Sport: "It is true that a lot have realised the quality of the player now, but not us. He was formed with us and it does not surprise us.
"Newcastle positioned themselves, we discussed it, they made us an offer that did not suit us."
The 19-year-old only made his debut in August and has eight goals and three assists to his name.
Reims are 14th in Ligue 1 and know exactly what they want - with Newcastle being far from their valuation.
Caillot continued: "As we do not really want him to leave, we have fixed the price quite high. They did offer us €35m (£29m) all in, but with a number of bonuses, some of them were quasi-impossible to reach.
"Like for example, winning the Champions League… We want €30 million (£25m) flat and €10 million (£8.3m) achievable bonuses."
Newcastle are currently 19th in the Premier League and two points off safety.
They haven't been in the Champions League since 2002 and their last European appearance was in the Europa League in 2013, when they reached the quarter-finals.
It's no secret that their new owners have ambitions to challenge for top trophies in the future.
Kieran Trippier was the first signing of the Saudi-led era at the start of the month, with the England international arriving from Atletico Madrid for £12.5 million.
Newcastle then triggered Wood's £25 million release clause to strengthen themselves and weaken relegation rivals Burnley.
Howe said earlier this month that he's hoping for more reinforcements this month, stating: “We would love to [make more signings]. I think you can see what Kieran did to the team.
"The response to him was first class. New signings at this moment would breathe new confidence into the team. So, fingers crossed."
Newcastle have been linked with a move for Sevilla defender Diego Carlos, who is reportedly keen to move to St James' Park.
Featured Image Credit: AlamyTopics: Newcastle United, Transfers, Champions League
Daniel Marland